307
307
Oct 29, 2012
10/12
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KQEH
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those pastors would use anything. i mean, he was called a pawn of jews and catholics, certainly an outsider. this whole issue of, you know, is he black enough, you know, began to arise. >> narrator: with mixed success, he tried to build coalitions for three years. but he had become frustrated. he wrote about it in a letter to a friend. >> "it's tough. lots of driving, lots of hours on the phone trying to break through lethargy, lots of dull meetings. lots of frustration." >> at that point, he begins thinking about, "is there some other way to do the same job that i'm trying to do?" which is lift people out of poverty. >> narrator: he decided to move on, this time to law school. >> he said to some of his community organizing buddies, he needed that credential, that harvard law degree, to access the corridors of power. >> narrator: christmas-time in 1968, mitt romney returned to detroit from his mormon mission. his mother and father were waiting at the airport, and so was his high school girlfriend, ann davies. >> ann i
those pastors would use anything. i mean, he was called a pawn of jews and catholics, certainly an outsider. this whole issue of, you know, is he black enough, you know, began to arise. >> narrator: with mixed success, he tried to build coalitions for three years. but he had become frustrated. he wrote about it in a letter to a friend. >> "it's tough. lots of driving, lots of hours on the phone trying to break through lethargy, lots of dull meetings. lots of frustration."...
318
318
May 11, 2012
05/12
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KRCB
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eye 318
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you work for us! >> it was this new force in american politics. and the white house did not have a plan to counter this. it kind of caught them by surprise. and on the communications front, they were flatfooted. >> narrator: at the white house, chief of staff rahm emanuel had been worried about the growing public anger for months, telling the president he should act. >> rahm emanuel, he recognized that you cannot inject hundreds of billions of dollars into the banking system without reassuring the american people that this is not going to happen agai >> rahm emanuel is quite forceful. now emanuel is usually a guy for favoring do no harm, favoring wall street, says, "now is the time, mr. president, for old testament justice." >> narrator: now the president decided to revive a central theme of his campaign: reforming wall street. >> president obama visits new york today to deliver a major address to wall street... >> one year to the day after the fall of lehman brothers... >> narrator: that september, on the one-year anniversary of the meltdown, the
you work for us! >> it was this new force in american politics. and the white house did not have a plan to counter this. it kind of caught them by surprise. and on the communications front, they were flatfooted. >> narrator: at the white house, chief of staff rahm emanuel had been worried about the growing public anger for months, telling the president he should act. >> rahm emanuel, he recognized that you cannot inject hundreds of billions of dollars into the banking system...
360
360
May 4, 2012
05/12
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KRCB
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eye 360
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if there's trouble, the government's going to come and take us. they are going to come and do what we need to do, because the world can't live without lehman brothers at the center of the financial system. it'll be a complete nightmare." >> narrator: and fuld believed he had a possible ally in geithner. he was one of their own. he'd brokered the bear deal, and he was a member of a very exclusive club. >> the board of the new york fed is made up of many of the titans of finance. that's really, in a way, the ultimate club on wall street. they determine who the president of the new york fed is. it's really the ultimate insider's initution. >> dick fuld is on the board. jamie dimon is on the board. tim geithner is a quasi-wall street ceo. you know, he has oversight over them, in some respects. he works with them in other respects. >> narrator: now on phone calls with hank paulson and ben bernanke, geithner argued they might have to follow the bailout playbook. >> geithner tells paulson, "i believe we are going to have to put government money in. and y
if there's trouble, the government's going to come and take us. they are going to come and do what we need to do, because the world can't live without lehman brothers at the center of the financial system. it'll be a complete nightmare." >> narrator: and fuld believed he had a possible ally in geithner. he was one of their own. he'd brokered the bear deal, and he was a member of a very exclusive club. >> the board of the new york fed is made up of many of the titans of finance....
489
489
Apr 13, 2012
04/12
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KRCB
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eye 489
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it seemed that telling a story helped us focus, helped us figure out who we were anyway, where were we in the world. "story ller" where is thdoor to the story? is the door left open? when he sat by our beds, the days rushed past like water. driftwood, bricks, heavy cargoes disappearing downstream, no matter, no matter, even the trees outside our screens tipped their cooling leaves to listen. my father was very disappointed by war and fighting, and he thought language could help us out of cycles of revenge and animosity. and so, as a journalist, he always found himself asking lots of questions and trying to gather information. he always very clear to underscore the fact that jewish people and arab people were brother and sister. that was in every story that he told. he would say this conflict came about because of political decisions or decisions made by powers in different countries, and it's not the fault of jewish people and arab people. he was convinced all through his life that resolution was possible. "many aed me not to forget them where do you keep all these pele? the shoemaker
it seemed that telling a story helped us focus, helped us figure out who we were anyway, where were we in the world. "story ller" where is thdoor to the story? is the door left open? when he sat by our beds, the days rushed past like water. driftwood, bricks, heavy cargoes disappearing downstream, no matter, no matter, even the trees outside our screens tipped their cooling leaves to listen. my father was very disappointed by war and fighting, and he thought language could help us out...
274
274
Apr 25, 2012
04/12
by
WETA
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eye 274
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the big hang-up for us was data. we had years and years of historical data about how corporates performed during business cycles. but we didn't have that much data about how retail mortgages performed during different business cycles. >> we knew how much money people said they were making. we saw that ubs and merrill lynch had securitized products earnings that were growing faster than ours. and we asked ourselves the question, "what are we doing wrong? what are we missing? have we not figured out how to lay off some of this risk? and honestly, we couldn't figure it out. what we never imagined was that those firms weren't doing anything at all. they were just taking the risk and sitting with it. >> the first wave of j.p. morgan bankers who had developed these original ideas in the 1990s, when they saw what was starting to happen-- essentially other banks were taking these ideas and applying them in ways that they had never expected-- some of them began to get very worried. >> we were just about to say "done" on a tra
the big hang-up for us was data. we had years and years of historical data about how corporates performed during business cycles. but we didn't have that much data about how retail mortgages performed during different business cycles. >> we knew how much money people said they were making. we saw that ubs and merrill lynch had securitized products earnings that were growing faster than ours. and we asked ourselves the question, "what are we doing wrong? what are we missing? have we...
200
200
May 2, 2012
05/12
by
WMPT
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eye 200
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and there were many uses to the product. so it just... it naturally grew. >> narrator: after pricing the derivatives, teams of investment bankers hit the road. >> they're called investment bankers, but they're effectively salesmen. their job is to go out and sell the stuff that the bank is creating. just in the same way a pharmaceuticals company would have a very large sales force, who go around selling their latest version of whatever the particular drug of the moment is. >> what sticks out in my mind is going to a group of italian companies and local governments and even convents that had been sold derivatives to try and make their accounts look better. and the theory was that these were sophisticated financial investors who could tell the risks. in reality, you had a bunch of nuns who knew nothing about this, but basically had bought it, hoping that this would somehow be financial alchemy that would solve their problems. >> these bankers were fanning out across europe, finding all of these clients that were... they were l
and there were many uses to the product. so it just... it naturally grew. >> narrator: after pricing the derivatives, teams of investment bankers hit the road. >> they're called investment bankers, but they're effectively salesmen. their job is to go out and sell the stuff that the bank is creating. just in the same way a pharmaceuticals company would have a very large sales force, who go around selling their latest version of whatever the particular drug of the moment is. >>...
248
248
Feb 17, 2012
02/12
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KRCB
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eye 248
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>> (translated): pakistan is helping us. pakistan is our nation. ese are our people. >> frontline investigates a secret war that threatens relations between the u.s. and its ally. >> frankly, we don't know on any given day what side the pakistanis are on. >> and later tonight, when an opium crop is destroyed, farmers are forced to trade their daughters to pay their debts. >> (translated): the smugglers gave us money and we can't repay them. now they want to take me by force. >> afghan journalist najibullh quraishi uncovers a tragic casualty in afghanistan's war on opium. >> (translated): if they take me, i will kill myself. what else can i do? >> these two stories on this special edition frontline. >> frontline is made possible by contributions to your pbs station from viewers like you. thank you. and by the corporation for public broadcasting. major funding is provided by the john d. and catherine t. macarthur foundation. committed to building a more just, verdant, and peaceful world. and by reva and davilogan. committed to
>> (translated): pakistan is helping us. pakistan is our nation. ese are our people. >> frontline investigates a secret war that threatens relations between the u.s. and its ally. >> frankly, we don't know on any given day what side the pakistanis are on. >> and later tonight, when an opium crop is destroyed, farmers are forced to trade their daughters to pay their debts. >> (translated): the smugglers gave us money and we can't repay them. now they want to take me...
207
207
Jan 4, 2012
01/12
by
WETA
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eye 207
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they told me, "these people stop us when we transport drugs, and anyone who tries to stop us will face the same consequences. if you don't accept our conditions, either give us back the money, or a sister or daughter, we will do the same to you. >> narrator: finally, the school teacher who we'll call "razim", says the traffickers forced him to watch the beheading of a man they said had not paid his debts. >> (translated): they threw the poor guy over there, grabbed a knife and slit his throat. i was looking at him. and they said, "if you don't give money, or your sister or daughter or son, then you will face the same fate." >> narrator: razim says he finally decided that if he were killed, his family would still be in danger, so he agreed to a deal. >> (translated): finally, i was forced to tell them i would give them one daughter who is five or six years old, and one son who is 11 or 12 years old. i was forced to give them as a guarantee for my own life so that they would release me. >> narrator: razim says he made the painful decision so he could come back and raise money to rescue h
they told me, "these people stop us when we transport drugs, and anyone who tries to stop us will face the same consequences. if you don't accept our conditions, either give us back the money, or a sister or daughter, we will do the same to you. >> narrator: finally, the school teacher who we'll call "razim", says the traffickers forced him to watch the beheading of a man they said had not paid his debts. >> (translated): they threw the poor guy over there, grabbed a...
493
493
Oct 24, 2012
10/12
by
KQED
tv
eye 493
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i used to use the word "penalty pricing" or "stealth pricing." >> bergman: so, the competition... increase in competition led to the use of penalty fees... bigger penalty fees? >> bigger penalty fees. >> bergman: and you were operating with your penalty fees like everyone else. >> well, we all had to make up somewhere, because everybody had to waive the annual fee to stay competitive. where do you make your money? so everybody increased the late fees. everybody started increasing the over-limit fees. when people make the buying decision, they don't look at the penalty fees, because they never believe they'll be late. they never believe they'll be over-limit, right? >> we were having some financial issues. we'd changed careers. >> bergman: elizabeth blascruz learned all about stealth pricing when she got a credit card from one of providian's competitors. >> i got an offer for a credit card with a credit line of $500, so i was happy to take that credit card. and that's kind of when it all started. i remember when the balance was about $480 or so, and i was late on a payment. they added on a
i used to use the word "penalty pricing" or "stealth pricing." >> bergman: so, the competition... increase in competition led to the use of penalty fees... bigger penalty fees? >> bigger penalty fees. >> bergman: and you were operating with your penalty fees like everyone else. >> well, we all had to make up somewhere, because everybody had to waive the annual fee to stay competitive. where do you make your money? so everybody increased the late fees....
201
201
Oct 24, 2012
10/12
by
KQED
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eye 201
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there's hundreds of us-- hundreds, thousands of us. look, 31,000 scientists and engineers signed a statement to the contrary to what you just read. >> hockenberry: the oregon petition? >> yes. >> hockenberry: the 14-year-old petition is not exactly an exclusive club. a bachelor of science degree is all it takes to get you on the list. this document, skeptics claim, counters the scientific consensus on global warming. now, are they all scientists? >> yes. one-third of them have ph.d.s. look, they are not specialists in climate. >> hockenberry: well, some were celebrities and friends... >> eh... >> hockenberry: it's a time- honored tactic by the skeptics: authentic-looking documents and reports that don't stand up to independent scrutiny. singer also signed the oregon petition. this is not his first time going up against accepted science. >> hockenberry: was the science around chlorofluorocarbons hyped, the science around secondhand smoke hyped, the science around the ozone layer hyped, going back ten, 15, 20 years? >> i'm happy to discu
there's hundreds of us-- hundreds, thousands of us. look, 31,000 scientists and engineers signed a statement to the contrary to what you just read. >> hockenberry: the oregon petition? >> yes. >> hockenberry: the 14-year-old petition is not exactly an exclusive club. a bachelor of science degree is all it takes to get you on the list. this document, skeptics claim, counters the scientific consensus on global warming. now, are they all scientists? >> yes. one-third of...
385
385
Apr 27, 2012
04/12
by
KRCB
tv
eye 385
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but bought used on ebay? >> it was definitely well under $1,000. >> reporter: put simply,asic genetic engineering is becoming do-it-yourself. >> so the experiments that were nobel prize winning in the 1970s are now done in high schools. >> reporter: ph.d biologists ellen jorgensen and oliver medvedik helped found genspace, a d.i.y. lab in downtown brooklyn which draws amateur genetic engineers from all walks of life. like lawyer dan orr, who says he found his previous line of work unfulfilling. >> i w working mainly lping large banks fix their foreclosure programs. >> reporter: so unfulfilling doesn't quite do justice to your discomfort. >> i felt it would be better to work in something that was better both for myself and for society. >> reporter: so orr is now genetically altering bacteria to detect mold: they'll glow when they sense it. it makes his teacher, ellen jorgenson, proud. >> you just can't really predict what-- where the imagination of somebody creative will lead them, in terms of solving a proble
but bought used on ebay? >> it was definitely well under $1,000. >> reporter: put simply,asic genetic engineering is becoming do-it-yourself. >> so the experiments that were nobel prize winning in the 1970s are now done in high schools. >> reporter: ph.d biologists ellen jorgensen and oliver medvedik helped found genspace, a d.i.y. lab in downtown brooklyn which draws amateur genetic engineers from all walks of life. like lawyer dan orr, who says he found his previous...